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Congratulations SILVAR 2015 CIPS graduates!
The Silicon Valley Association of REALTORS® (SILVAR) 4th CIPS (Certified International Property Specialist) Institute ended on Tuesday. This year’s Institute had a total enrollment of 31 students. SILVAR welcomed back instructor David Wyant and his wife and assistant Patsy Wyant.
This year’s students were a very diverse and well-traveled group from all over the Bay Area, Southern California and Arizona. Once the students complete and submit their CIPS applications to the National Association of REALTORS®, they can receive their CIPS designation and get pinned at the NAR Conference and EXPO, which will be held in San Diego November 13-16.
A highlight of the last day was a visit by Joe Schneider, NAR manager of Global Business Development and Outreach. Schneider spoke to the students about the value of the CIPS designation, especially in Silicon Valley, which continues to attract many international buyers.
At the end of the last course, SILVAR’s Global Business Council hosted a CIPS Reception, which was also attended by SILVAR CIPS designees, who shared their global real estate experiences with the students. Jennifer Tasto, NAR Liaison to the Philippines, also reported on the International REALTOR® Conference held in the Philippines and NAR’s project to build a REALTOR® village for Super Typhoon Hainan victims there.
The success of this year’s CIPS Institute would not be possible without our generous CIPS Sponsors of the Day. Each sponsor had very informative presentations.
Darrell Monda, owner of TourFactory Bay Area, took students on a virtual tour of homes, a platform that works as a very good marketing tool, especially for foreign buyers who cannot physically be at a property they are interested in purchasing. TourFactory has certified aerial photographers and is the only company in Northern California that has a waiver from the FAA to use drone photography in its business.
The students enjoyed Kyle Chuang’s presentation, which included tips on how to take a multiple choice exam, a requirement at the end of each class day. Chuang, who is with Farmers Insurance, also tested students on home insurance information helpful for their clients.
Janet Case, CEO of Proxio, introduced the REALTORS® to the international networking platform that links REALTORS® and their listings with other agents around the world, including real estate developments. Proxio translates listings in 19 languages, 55 currencies and metric measurements. Case said studies show 20 percent of U.S. families do not speak English at home. In California, the percentage is higher – 43 percent. Proxio is a free benefit for SILVAR REALTORS® who are members of MLSListings Inc.
Kenneth Chan, premier mortgage consultant with HSBC, focused on how foreign buyers who don’t fall under the 2-2-2 rule (provide a two-year U.S. residency, two-year work history and two-year credit history) can qualify for a mortgage loan, other obstacles foreign buyers face, and success stories.
Anita Rodal, international liaison with AFEX (Associated Foreign Exchange) and president of SBPI Services, Inc., educated the students on foreign currency exchange and SBPI Services’ captive insurance program, which enables Chinese investors to take millions of dollars out of China and invest the money from the policy in real estate.
Left to right are moderator Davena Gentry, SILVAR Global Business Council chair, and panelists Amy Sung, Mark Wong, Kenneth Chan and Jessie Wu.
“Doing Business with China,” the first of a quarterly series of programs exploring different aspects of doing business with clients from other countries, was a sell-out. Hosted by the Silicon Valley Association of REALTORS® (SILVAR) Global Business Council at SILVAR yesterday, the program gave members the opportunity to learn the “nuts and bolts” from real estate professionals that have worked with Chinese clients and are familiar with the real estate rules and regulations of that country. They shared their experiences, including challenges they have encountered when closing a deal.
SILVAR Global Business Council Chair Davena Gentry served as moderator. Panelists Amy Sung, a REALTOR® with Pacific Union International Real Estate – Menlo Park, and Mark Wong, a REALTOR® with Alain Pinel REALTORS® – Saratoga, presented the REALTOR® perspective; Kenneth Chan, premier mortgage consultant with HSBC – Palo Alto, presented the lender perspective; and Jessie Wu, escrow officer with First American Title Company – Cupertino, presented the escrow perspective.
The REALTORS® discounted the myth that Chinese buyers prefer Chinese or Chinese-speaking agents. What’s important is to show respect for Chinese buyers who are not well-versed in English. Sung pointed out that just because they don’t speak English well does not mean the Chinese buyer is not educated. Wong said more important than knowing the language is to learn and respect their culture, the principles of Feng Shui, what numbers and colors mean to the Chinese.
Learn about “Doing Business with China” on Thursday, October 2, 1-2:30 p.m. at SILVAR, where panelists will share their experience with Chinese buyers and sellers. This event will focus primarily on the REALTOR®, the lender and the escrow perspectives.
Amy Sung, a REALTOR® with Pacific Union International Real Estate – Menlo Park, and Mark Wong, a REALTOR® with Alain Pinel REALTORS® – Saratoga, will present the REALTOR® perspective; Kenneth Chan, premier mortgage consultant with HSBC – Palo Alto, will present the lender perspective; and Jessie Wu, escrow officer with First American Title Company – Cupertino, will present the escrow perspective.
“Doing Business with China” is the first of a quarterly series of programs that will explore different aspects of doing business with clients from other countries. This educational event will give members the opportunity to learn the “nuts and bolts” from real estate professionals that have worked with Chinese clients and are familiar with the real estate rules and regulations of the country. They will share their experiences, including challenges they have encountered when closing a deal.
Cost is $10 for members and $15 for nonmembers, if registered by Wednesday, October 1. Cost is $20 at the door. Chinese dessert snacks will be served at this event. Members may register at ims.silvar.org or call SILVAR at (408) 200-0100.
SILVAR’s 2014 Installation Dinner is next week on Thursday, January 9, 6 p.m. at Villa Ragusa, 35 South 2nd Street in Campbell. At this special event, 2014 President David Tonna and the 2014 officers and Board of Directors will be officially installed.
Taking the oath of office with Tonna will be Chris Isaacson, President-elect; Phyllis Carmichael, Treasurer; Carolyn Miller, Past President; Suzanne Yost, Region 9 Chair; Lehua Greenman, Menlo Park/Atherton District Chair; Jeff Beltramo, Palo Alto District Chair; Bonnie Kehl and Joe Brown, Los Altos/Mountain View District Co-chairs; Sue Bose, Cupertino/Sunnyvale District Chair; Mark Von Kaenel, Los Gatos/Saratoga District Chair; Jeff Bell, Mark Burns, Eileen Giorgi, Bill Moody, Karen Trolan, At-large Directors; John Tripp, NAR Director; and Simon Offord, Affiliate Chair. The special awards for REALTOR® of the Year, Affiliate of the Year and Spirit of SILVAR will also be presented during the evening.
Thank you in advance to this year’s Installation Sponsors: Los Gatos/Saratoga District; Alain Pinel REALTORS® – Los Gatos, Saratoga and Almaden Valley; MLSListings Inc.; Kenneth Chan – HSBC; Sereno Group; Troy Harrison Property Inspections; Pacific Union Real Estate; and Daddario Roofing Company.
Silicon Valley Association of REALTORS® says ... 